Nilsine Partners LLC Sells 2,483 Shares of Shopify Inc. (NYSE:SHOP)

Nilsine Partners LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,442 shares of the software maker’s stock after selling 2,483 shares during the quarter. Nilsine Partners LLC’s holdings in Shopify were worth $813,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in shares of Shopify in the first quarter valued at about $169,000. Raymond James Trust N.A. lifted its holdings in shares of Shopify by 26.5% in the first quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock valued at $510,000 after purchasing an additional 158 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Shopify by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after purchasing an additional 592 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Shopify by 13.0% during the first quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after acquiring an additional 527 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Shopify by 89.6% during the first quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after acquiring an additional 206 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SHOP shares. The Goldman Sachs Group lifted their price target on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Truist Financial lifted their price target on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Wedbush reiterated a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a report on Tuesday, February 13th. Roth Capital lifted their price objective on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Citigroup reduced their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.38.

Shopify Stock Performance

Shares of SHOP stock traded up $0.37 during midday trading on Friday, hitting $75.18. The company had a trading volume of 4,372,262 shares, compared to its average volume of 9,608,345. The company’s 50 day simple moving average is $78.95 and its 200 day simple moving average is $70.57. Shopify Inc. has a 52-week low of $43.50 and a 52-week high of $91.57. The stock has a market cap of $96.72 billion, a price-to-earnings ratio of 831.43 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Research analysts anticipate that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.